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Post-Data Selling Accelerates, Terminal Hits 5.5% high

US TSY FUTURES

Tsy futures extending lows across the board, USM3 taps 124-07 (-100) lows, new cycle low in short end hit: TUM3 101-21.5, 2YY hits 4.8931% (+.0773) highest since May 2007.
STIR: Fed funds implied hike for Mar'23 climbs to 31.9bp (+1.8), May'23 cumulative 58.5bp (+2.4) to 5.158%, Jun'23 76.9bp (+2.4) to 5.344%, terminal rises to 5.50% in Oct'23 off 5.43% highs.

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